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According to multiple media reports, on December 23, the Indian government arrested two managers from the Chinese company Vivo on suspicion of financial crimes. This earth-shattering news soon aroused the attention of public opinion around the world to India.
It turned out that the reason why the Indian government wanted to directly attack vivo was to prohibit them from remitting their funds to China. Such behaviour is clearly contrary to the basic norms of international trade.
Soon, the vivo group responded to this action taken by the Indian government. But no one expected that after two days of silence, our country would finally take action.
And all this starts with the contradiction between vivo and the Indian government.
Misfortune for Chinese companies
In fact, this is not the first time that the Indian government has directly "hacked" Chinese companies.
In October, India's financial law enforcement agencies arrested four corporate executives, one of whom was a Chinese national of vivo, on suspicion of money laundering.
In July 2022, India's financial law enforcement department also froze 119 accounts related to Vivo on the same charges, with a total of more than $59 million. Fortunately, the freezing order was later revoked by the court.
Some media observers have found that vivo is by no means the only company that has been brutally hit in the Indian market. Mainland companies such as Huawei, OPPO and Xiaomi have all been squeezed out and suppressed by the local government in the Indian market.
In June 2020, the Indian government even banned apps provided by Chinese internet vendors in the name of national security.
It is no exaggeration to say that the Indian government is well versed in suppressing and persecuting Chinese companies. But this time, their measures against vivo still caused a lot of movement in the international public opinion field.
Suppressed vivo
Just a few days ago, the Indian government arrested a number of executives of Vivo under the pretext of financial crimes. Subsequently, vivo made a public response to this emergency.
Vivo "deeply regrets" the Indian government's actions. They believe that the Indian government's wanton arrest of Vivo employees is a blatant "act of harassment". Moreover, this action by the Indian government is bound to bring more uncertainty to the industry as a whole.
But the Indian government clearly has no intention of making compromises with vivo. Some experts believe that the reason why the Indian government "hacks" Chinese companies, including vivo, is to prevent them from remitting the money they earn from the Indian market to China.
If a Chinese company sends money or money to China without authorization, the Indian government will quickly arrest the relevant personnel of the company or directly freeze the company's funds in India in the name of illegal remittance and financial crimes.
Obviously, this action by the Indian government is a blatant challenge to and disregard for the international trade order. It is precisely because the Indian government frequently blackmails foreign businessmen who come to invest that the investment environment in India as a whole is very bad.
However, the good thing is that there is a strong motherland behind vivo.
The response of the Chinese government
At the regular press conference of the Ministry of Foreign Affairs held on December 25, a reporter asked Mao Ning about the news of the Indian government's tough measures against vivo.
Mao Ning told everyone in attendance that the Chinese government had taken note of the reports and public opinion. The Chinese government's attitude on this matter is very clear.
China supports mainland enterprises to invest and build overseas in accordance with local laws and regulations, and we will unswervingly support our own enterprises to protect their rights and interests overseas in accordance with laws and regulations.
In the course of her speech, Mao Ning solemnly emphasized: "We urge the Indian side to fully understand the mutually beneficial and win-win nature of China-India economic and trade cooperation, and provide a fair, just, transparent and non-discriminatory business environment for Chinese enterprises to invest and operate in India." ”
Mao Ning told everyone that in the future, the Chinese embassy and consulates in India and relevant diplomatic missions will continue to provide necessary safeguards and assistance to Chinese enterprises and citizens who invest in India.
Some analysts believe that Mao Ning's response is that Chinese officials are cheering for mainland companies. At the same time, this is also a solemn warning issued by the Chinese government to the Indian side.
China is the second largest economy in the world today and the largest developing country. We are willing to cooperate with any country in the world on the basis of the principles of mutual benefit, fairness and openness.
If India continues to play two-faced in its trade with China, it will eventually make itself lose trust with the international community, and thus allow itself to swallow the consequences of economic recession and investment depression!
Bibliography:
1. India will take another shot at Chinese mobile phone manufacturers!
2. vivo has been suppressed again, how "pitted" India's business environment is?